
July arabica coffee (KNC25) Thursday closed down -9.55 (-2.58%), and July ICE robusta coffee (RMN25) closed down -116 (-2.37%).
Coffee prices on Thursday sold off sharply, with arabica falling to a 5-week low and robusta tumbling to a 6-week low. An increase in ICE coffee inventories is weighing on prices. ICE-monitored robusta coffee inventories rose to an 8-month high Thursday of 5,425 lots. Also, ICE-monitored arabica coffee inventories rose to a 3-1/2 month high Thursday of 883,197 bags.